Simran Korr

speaker

1,110 appearances 3 recordings 1 series first heard Aug 2026 last heard 5d ago

Simran Korr’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 3 in all, peaking in Sep 2026 with 2.

Appearances

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Friends That Invest · Why I’m Moving to New York + Your Biggest Money Questions · 7 Sep 2026 podcast

So let's go to the first question.

Someone said, I make $4,700 a month net income.

How much should I be saving and investing for retirement?

I am 40.

This is a really, really good question.

And I think a lot of times if you are like, what makes me good with money?

We often try to base it on like a percentage.

Like, oh, if you invest or save ten percent of your net income, you're doing really well.

Or if you invest and save twenty percent you're doing really well.

And as someone that is like part of the fire community, the financial independence retire early community, they also say like, you know, the more your savings rate, the quicker you are to retiring early, which is true.

But I'm not a big believer in this idea that you have to save or invest a certain amount of money to be good with money.

If you are saving five percent of your income and you live in a high cost of city area and you're only living there for like a few years to improve your salary and then you're gonna come back.

It doesn't really matter that you're saving five percent of your income because you're also increasing your earning power.

Whereas let's say you move to a smaller town where, you know, the rent or mortgage costs are much cheaper, then you should be probably saving a bit more than five percent because your rental costs are so much lower.

So it's very like comparing apples and oranges, depending on if you live in

in like a very high cost of living area, a high cost of living area.

a low cost of living area or a very low cost of living area.

And so depending on where you live, a different percentage of how much you should save.

It just like balances each other out.

Someone that saves twenty percent in a low cost of living area is not really doing as well as someone that's saving like forty percent in that area.

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